U.S. citizens living in Canada face tax risk on investment income
A pair of U.S. tax cases decided this week confirmed that high-income U.S. citizens living in Canada (including dual citizens) could face an effective marginal tax rate of more than 57 per cent on any investment income they earn.
Both cases dealt with the ability of U.S. citizens to claim a foreign tax credit against the dreaded net investment income tax (NIIT).
One of the cases involved a Canadian resident taxpayer.
Read More
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on financialpost.com — the content belongs to Financial Post.